Global Health Ltd., which currently operates a network of five hospitals (Gurugram, Indore, Ranchi, Lucknow and Patna) under the brand ‘Medanta’ and one hospital (in Noida) which is under construction, said its initial public offer will open on November 3.
The price band of the offer has been fixed at ₹319 to ₹336 per equity share of the face value ₹2 each.
Bids can be made for a minimum of 44 equity shares and in multiples of 44 equity shares thereafter.
The initial public offering comprises fresh issue aggregating up to ₹500 crore and an offer for sale of up to 50,761,000 equity shares by the selling shareholders comprising of up to 50,661,000 equity shares by Anant Investments, an affiliate of The Carlyle Group, and up to 100,000 equity shares by Sunil Sachdeva (jointly with Suman Sachdeva).
The company intends to use the proceeds of the fresh issue for Investment in two of its subsidiaries, GHPPL and MHPL, in the form of debt or equity for repayment/prepayment of borrowings, in full or part, of such subsidiaries, of ₹375 crore.
The balance amount of the net issue proceeds will be used for general corporate purposes.
Well known cardiologist Dr. Naresh Trehan is the chairman and managing director of the company which operates on a doctor-led model.
